Recession Proof Living

Of all the investment options available right now, I suspect that real estate has the most long-term potential. The current wave of foreclosures may bring some serious bargains to your area in the form of rental property. Our current historically-low interest rates make the prospect even more tempting. If you are considering buying some, realize you are taking a risk that prices will drop even lower, or that you won’t be able to keep the properties rented enough to cover the mortgage payment. For both these reasons, I recommend buying rental property only if you can pay with cash, or at least mostly with cash. And whatever you do, don’t plan on flipping the property any time soon. That type of speculation is what created our economic crisis in the first place–excessive borrowing at 100% or more of a home’s value on purchases or refinances (or remortgages in the UK). If investing in rental property interests you, Bargain Network Homes is a good resource for finding foreclosed real estate in your area.